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Forex Market Analysis

Pivot: 1.096

Most Likely Scenario: Short positions below 1.096 with targets @ 1.086 & 1.08 in extension.

Alternative scenario: Above 1.096 look for further upside with 1.1035 & 1.11 as targets.

Comment: The pair stands below its resistance and remains under pressure.

EUR/USD Intraday: break of a ST rising trendline support.

EUR/USD Chart

eurusd chart

GBP/USD Intraday: bullish bias above 1.487.

Pivot: 1.487

Most Likely Scenario: Long positions above 1.487 with targets @ 1.498 & 1.501 in extension.

Alternative scenario: Below 1.487 look for further downside with 1.481 & 1.477 as targets.

Comment: A support base at 1.487 has formed and has allowed for a temporary stabilisation.

GBP/USD Chart

GBPUSD Chart

USD/JPY Analysis

Pivot: 119.15

Most Likely Scenario: Long positions above 119.15 with targets @ 119.9 & 120.35 in extension.

Alternative scenario: Below 119.15 look for further downside with 118.9 & 118.65 as targets.

Comment: Technically the RSI is above its neutrality area at 50.

USD/JPY Chart

usdjpy chart

source: fxpro forex broker

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